A Brazilian Congressional mixed commission delayed examining a government proposal on Wednesday that would prevent companies from using state-granted corporate tax discounts to reduce taxable income for federal revenue purposes, a proposal that would increase government revenue. Brazil says the measure would raise 35.3 billion reais ($7.10 billion) in revenue in 2024, and it is deemed crucial for President Luiz Inacio Lula da Silva's plan to erase the primary budget deficit next year. The commis
A Brazilian Congressional mixed commission delayed examining a government proposal on Wednesday that would prevent companies from using state-granted corporate tax discounts to reduce taxable income for federal revenue purposes, a proposal that would increase government revenue. Brazil says the measure would raise 35.3 billion reais ($7.10 billion) in revenue in 2024, and it is deemed crucial for President Luiz Inacio Lula da Silva's plan to erase the primary budget deficit next year. The commission's president, Senator Rogerio Carvalho, said discussions would resume on Thursday afternoon.